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1. Suppose we want to compare this year's GDP with those of previous years. As we go back in time - to 1980, to 1970, to 1960, and to still earlier years - what happens to the validity of these comparisons? Why does this happen? 2. If our GDP rose from 11,000 to 11,500, there could be a few different explanations. List each of these possibilities. 3. Which has been increasing faster, GDP or real GDP? Explain your answer. 4. "Americans enjoy the highest standards of living in the world." Discuss why this statement is not perfectly accurate. 5. Under what circumstances could real GDP for a given year be greater than GDP for that same year? For example, if 2015 were the base year and 2016 were the current year, how could real GDP in 2016 exceed GDP for 2016? 6. Explain how GDP is affected by the sale of:a new house.an hour session with a physical trainer.1,000 shares of AT&T.an antique rolltop desk. 7. If you were comparing the economic well-being of two countries and had a choice of using one of the following four measures, which one would you choose and why would you choose it?GDPReal GDPPer capita GDPPer capita real GDP 8. Do you think we should switch from using GDP to GPI as our basic measure of national well-being? 9. You have just been hired by the Bureau of Economic Analysis of the U.S. Department of Commerce to come up with an improved measure of national output. Use GDP as your starting point. 10. Which country has the highest per capita GDP and which country has the lowest? PART II: JOURNAL ACTIVITY Web Field Trip Directions: Please visit the following two websites: · GDP (https://www.bea.gov/index.htm)· United Nations Human Development Then answer the questions below. Please provide detailed and elaborate responses and ensure that your responses are a minimum of 100 words each and include examples from the reading assignments or personal experience, if possible. 1. Find the most recent data on GDP growth by visiting GDP for the most comprehensive accounts through U.S. Department of Commerce, Bureau of Economic Analysis. Then compare the growth rate of GDP components including C, I, G, net exports and inventories.
2. Using the United Nations Human Development, please compare GDP, GDP per capita, and overall well-being in different countries. You should look for countries that are ranked differently depending whether GDP per capita or "human development" is the criterion.
assuming that the expectations theory is the correct theory of the term structure calculate the interest rates in the
If we assume that all firms in a perfectly competitive constant cost industry are identical, we conclude that, in the long run, product price will exactly equal the firms' minimum average total cost. Explain why this is true using supply and deman..
managerial economics to analyze the reasons for and against the merger, also to assess the performance of the consolidated company since its completion.
Mbank has deposit liabilities of $100 million. It only keeps the minimum cash reserves required by law of 10%. Its annual costs (wages, rent, utilities, etc.) are $2.5 million. What is Mbank's profit when it charges 7% annual interest on its loans, a..
Impliment the formula to earnings rather than operating income also use a required return for equity of 9 percent.
Assume the Federal Reserve sells government securities from its existing holdings to the financial sector and the non-bank public.
Assume the government proposes to tax these benefits at the same rate as other types of income. What is the impact of the proposed tax on the optimal retirement age.
1. which of the following industries is most likely closest to achieving perfect price discrimination?a. the textbook
how to calculate the slope then the intercept. With slope and intercept information supply and demand can be written in the familar.
find an article from the media internet newspapers magazines etc. on a current event that addresses an economic concept
Calculate and interpret price and income elasticity of demand, and explain why the price elasticity of demand tends to increase in the long run.
problem 1.the elasticity of demand for home computers is -2.5 the elasticity of demand for business computers is -.90
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